Faraday Future the future of cars?
The electric cars not a new idea, and in fact has been around since the 1800’s. The modern-day electric car is known by the name Tesla. The company has broken into the electric car space with premium electric sedans and crossovers, but at CES 2016 they’ve been challenge by the major Droit players and an unlike company. Faraday Future, or what the nickname they gave themselves on stage “FF”, unveiled a high-end concept car during CES in Las Vegas. The car won’t make it to production but shows the potential of what a 18 month old company can and will do with its new $1 billion Nevada
On top of the crazy concept design, the car isn’t built like a Ford, Tesla, or any car on the market. Faraday Future using what they call “Variable Platform Architecture” or what I like to call “Plug and Play.” The technology makes the car modular and flexible to the drivers needs. The car can change size, electrical size of the battery packs, and even drive train. The company hinted at a business model where customer would ‘subscribe’ to a plan giving them access to autonomous cars depending on their needs. One day they could have a pick up truck drive them to the hardware store and the a family car to go to the zoo. It’s as game changing as Ford using the modern production line back in the early 1900’s.
Faraday Future is also partnered, and likely funded by, LeTV: A Chinese Media firm. Forbes reported Jia Yueting, billionaire founder, was the sole investor in the new Nevada factory. FF is also going to manufacture their own batteries in partnership with leading battery produces. It’s a similar method to Tesla’s an Panasonic’s partnership. The manufacturing of their own batteries may be the only way the company can make batteries fit different cars, but still work in any of their cars.
The FFZERO1 concept cars give the company hype, press, and more time to build their new Nevada factory. After a few months to a year Faraday will have to deliver an electric car that it can mass produce. The cars price will have to undercut Tesla to make them more appealing or have the subscription model cost less than the up keep of owning a car. I would pay $300 a month to have a car drive me to work, grocery store, or hardware store and not worry about maintenance, gas, parking, and insurance.
The company wouldn’t mention when the factory is slated to be done, but they plan to “launch a car in the next couple of years.” I have a feeling the next couple years is going to turn into another Tesla where they struggle to meet their first goals, and have a higher price car than they first wanted. All the while Chevy, Ford, Toyota are all working on electric for the public. Chevy released the Chevy Bolt which might just be the first electric car affordable enough to anyone who would buy a normal combustion car would pick electric over gas.
Tell us in the comments below what you think about the FFZERO1 from Faraday Future, and don’t forget to mention if you’d buy the car if you could!